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Tech threat to packagers

Most brokers believe that technological advancements by lenders could see them use fewer packagers.

In a survey by the Intermediary Mortgage Lenders’ Association, 53 per cent of intermediaries say technological enhancements would lead them to place more business direct.

Seventy-seven per cent say they use packagers for support in difficult cases. Other reasons cited are wide knowledge, access to exclusive products and on-site underwriters.

Eight-six per cent said they submit sub-prime mortgages via packagers compared with 45 per cent for buy to let and 44 per cent for self-cert.

Director Godfrey Blight says: “It is no great surprise that intermediaries say the most important benefit in using a packager is to help support tricky cases, as well as the access they get to the range of products of a number of lenders, sometimes on an exclusive basis.

“Service and relationship are very important factors and for the most part packagers score very well in this regard. However, in a minority of cases, intermediaries are less than totally satisfied so there is no room for complacency.”


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Thinking of expanding overseas?

Whether you’re a small company or an established larger employer, expanding overseas into emerging markets can be an extremely attractive prospect for growing your business. However, with this comes a duty-of-care requirement to any staff based overseas.


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